Bharat Petroleum Corporation (BPCL) has received an approval for the proposal to seek shareholders’ consent by way of Postal Ballot for increasing the ceiling of Investment by Foreign Institutional Investors in the shareholding of the company from 24% up to 49% in one or more tranches subject to regulatory authorities’ approval. The board of director at its meeting held on April 11, 2016, has approved for the same.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.